In the end-80’s until the mid-90’s, two of IVC’s founders, Bernd Schnell and Otto Schött ran their own computer equipment distribution company. While gaining their business in the semiconductor industry up to a yearly turnover of € 130 million, Schnell and Schött established a strong relationship to John Tu, founder of Kingston Technology Company, Inc., the world’s leading independent memory manufacturer.
In 1996 Schnell and Schött successfully sold their business through an acquisition. Due to their excellent standing in the German entrepreneurial community, Schnell and Schött realized their chance to invest profitably in early stage start-ups as business angels. This happened before the high-tech and internet boost grow valuations of pre-IPO investment valuations tremendously. Taking advantage of the hype Schnell and Schött successfully founded IVC Venture Capital AG along with their long standing partner John Tu.
Since its formation in 1998, IVC has successfully raised € 17.8 million ordinary share capital from institutional and private investors. Together with capital directly invested by institutionals, IVC got additional funding from government owned German banks i.e. Technologiebeteiligungsgesellschaft, Bonn/Berlin and Kreditanstalt für Wiederaufbau (KfW), Frankfurt. The total amount of funding exceeded € 150 million.